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நன்மை உயர்த்தும் ஏழு விஷயங்கள்

நன்மை உயர்த்தும் ஏழு விஷயங்கள்

1) ஏழ்மையிலும் நேர்மை
2) கோபத்திலும் பொறுமை
3) தோல்வியிலும் விடாமுயற்சி
4) வறுமையிலும் உதவிசெய்யும் மனம்
5) துன்பத்திலும் துணிவு
6) செலவத்திலும் எளிமை
7) பதவியிலும் பணிவு
வழிகாட்டும் ஏழு விஷயங்கள்

1) சிந்தித்து பேசவேண்டும்
2) உண்மையே பேசவேண்டும்
3) அன்பாக பேசவேண்டும்.
4) மெதுவாக பேசவேண்டும்
5) சமயம் அறிந்து பேசவேண்டும்
6) இனிமையாக பேசவேண்டும்
7) பேசாதிருக்க பழக வேண்டும்
நல்வாழ்வுக்கான ஏழு விஷயங்கள்

1) மகிழ்ச்சியாக இருக்க பழகுங்கள்
2) பரிசுத்தமாக சிரிக்ககற்று கொள்ளுங்கள்
3) பிறருக்கு உதவுங்கள்
4) யாரையும் வெறுக்காதீர்கள்
5) சுறுசுறுப்பாக இருங்கள்
6) தினமும் உற்சாகமாக வரரவேற்கத்தயாராகுங்கள்
7) மகிழ்ச்சியாக இருக்க முயற்ச்சி மேற்கொள்ளுங்கள்
கவனிக்க ஏழு விஷயங்கள்

1) கவனி உன் வார்த்தைகளை
2) கவனி உன் செயல்களை
3) கவனி உன் எண்ணங்களை
4) கவனி உன் நடத்தையை
5) கவனி உன் இதயத்தை
6) கவனி உன் முதுகை
7) கவனி உன் வாழ்க்கையை

 

 

நன்றி                  

Letter addressed to LIC CHAIRMAN by our LIAFI General Secretary.

LIAFI-SG/CO-047/14                                                                                                      14 June 2014

Shri. S.K. Roy,

Chairman, L.I.C. of India, Central Office,

“Yogakshema”, Jeevan Bima Marg,

P.B. NO-19953,

MUMBAI-400 021

 

Dear Sir,

 

Sub: Introduction of New Products-Reg.

 

The Agents are finding it difficult to market the existing limited products. We have to put a sad face when customers querying for Child and other products. The Agents are being pressurized to market the existing products, of which, only two or three products are popular.

 

We don’t hesitate to squarely blame the Management for this situation. It is the short sightedness of the Management which caused this type embarrassment to the field force. You are aware that all the old policies were being closed by 30-09-2013. A grace period of three months is given and all these were closed on 31-12-2013. In spite of awareness of this situation the Management has not taken care to submit and get the approval from IRDA. Almost three months had passed in the current financial year and the doormat situation continues.        

 

We request you to initiate all possible steps to get the new useful products introduced at least from

1^st July 2014.

 

Thanking you,

Sincerely yours,

For Life Insurance Agents Federation of India

 

Secretary General

Letter addressed to Finance Minister by our LIAFI General Secretary

LIAFI-SG/GOI-046/14                                                                                              13 June 2014

Shri. Arun Jaitely,

Minister of Finance,

A-44, Kailash Colony,

NEW DELHI-110 048

 

Respected Sir,

 

Sub: Pre Budget Suggestions

 

We would like to suggest the following points for your consideration and bring necessary changes in the existing Rules.

 

1.Service tax: Central Government is collecting service tax on Insurance (risk) premium. We feel that the LIC Policyholders are penalized twice. The Central Govt. is taking 10% of the surplus of premium paid by policyholders. This amount should have been distributed among policyholders. Added to this burden, the policyholder has to pay service tax.

1.  
   Government is not receiving any amount from the premium paid in the private sector insurance companies. It is in every body’s knowledge that LIC is funding for the nation Building and coming to the rescue of the market whenever it is in huge losses. This entire amount belongs to policyholders of LIC whereas the private insurers are pocketing the surplus. Hence the government should leave the LIC policyholders by exempting them from collection of service tax.
    
   We request you to get the collection of Service Tax stopped.
    
2. In order to mobilize savings under Section 80C, we request you to increase the present limit of One Lakh to Two Lakhs.
    
3. The concept of health care is slowly gaining momentum. In order to fine-tune, the premia is to be reduced and avoid service tax.    
    
   The Income Tax exemption limit under section 80D shall be increased to Rs. 50,000/- from the present Rs. 15,000/-
    
4.  Since our LIC Agents have vast contacts, the public are hoping that the New Government will abolish tax system as is expressed by Shri. Narendra Modi ji in a meeting in the presence of Baba Ramdev.   
    
   We sincerely hope that our suggestions will be taken care off.
    
   Thanking you,
   Sincerely yours,
   For Life Insurance Agents Federation of India

               sd/-

          Secretary General

 

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Life insurers struggle to attract new inflows

Deepa Nair

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Ulip sales have taken a hit since 2010

Mumbai, June 12:  

Though mutual funds have been able to attract inflows from retail investors due to the rally in the equity markets, life insurers have had no such luck in unit-linked insurance plans (Ulips).

New products

Insurers are struggling to attract premium flows as they are facing problems related to selling new products and low commissions on Ulips.

Ulip sales have taken a hit since 2010, when the insurance regulator revamped norms by increasing the lock-in period and lowering commissions on their sales.

Ulip sales, which earlier constituted 90 per cent of private life insurers’ overall product portfolio, has declined significantly to less than 10 per cent.

Amitabh Chaudhry, MD and CEO of HDFC Life insurance, said, “At present, most insurers are selling Ulips at a loss, as the cost of acquisition of customers is very high. So, most insurers have switched to selling participating products.” However, HDFC Life plans to launch a new Ulip product on the online platform, by eliminating distribution cost and stripping off all charges except fund management charge of 1.35 per cent and mortality charge.

“Every insurance company is charging the maximum that is allowed by the regulator. With an online Ulip plan, the overall charges will be cheaper than that of a mutual fund,” said Chaudhry.

The move to sell online Ulip comes at a time when most agents have stopped selling these products due to lower commissions.

Social media

Chaudhry said HDFC life plans to use its distribution reach and social media platform to sell the product.

The Insurance Regulatory and Development Authority had ordered the discontinuation of sale of life insurance products that do not comply with its revised guidelinesfrom January 1. As a result, all life insurance companies had to re-work their product portfolios.

Interestingly, the country’s largest life insurer, the Life Insurance Corporation of India (LIC), is not selling a single Ulip product as part of its new product portfolio.

Surrender of Ulips

However, a senior LIC official said with the expectation of a longer-term bull market, the insurer is considering a regular premium Ulip plan.

The life insurance industry has also seen a surge in the surrender of  Ulips.

Pankaj Razdan, MD and CEO of Birla Sun Life Insurance, said, “There has been a rise in surrender (of Ulips) in the industry (to cash in on the returns due to the market rally) in the last couple of months. We need to create more awareness as Ulips are very good long-term products in the new structure.”

(This article was published on June 12, 2014) .

 

 

    

 

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Reduced product portfolio may hit LIC’s premium income

Our Bureau

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Insurer facing difficulty in selling new products

SB Mainak, Managing Director, Life Insurance Corporation.

Kolkata, June 10:  

Life Insurance Corporation of India (LIC) may see lower premium income in the first half of this fiscal on reduced product portfolio and problems related to selling new products.

Regulator’s nod

SB Mainak, Managing Director of LIC, told reporters on the sidelines of an event organised by the Bengal Chamber of Commerce and Industry that business may pick up after the insurer gets the nod from the regulator to sell new products.

The Insurance Regulatory and Development Authority (IRDA) has ordered the discontinuation of sale of old life insurance products from January 1 and insurers have been asked to come up with new products compliant with its revised guidelines.

LIC’s premium income started declining from January this year.

Mainak said the new regulatory compliant products are yet to get acceptance in the market.

“Field agents are finding it extremely difficult to sell new products,” Mainak said. A separate service tax charge which ate into the premiums and reduced the benefits, was one of the main reasons for the poor sale. The insurer, in the January-March quarter this year, saw new premium collection at Rs. 24,350 crore, 7.1 per cent lower than the Rs. 26,210 crore collected in the corresponding quarter last year.

“Since January, LIC and the industry as a whole have been witnessing negative growth,” he added.

LIC is expecting sales to pick up in the second half of this fiscal and plans to employ a new marketing strategy.

Marketing strategy

“We need to re-look at our marketing strategy for selling new products. It takes time to develop new products… We are expecting approval for some new products shortly,” Mainak added.

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“We need to re-look at our marketing strategy for selling new products. It takes time to develop new products… We are expecting approval

for some of the

new products shortly”

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